Hyperautomation the future of digitization.

“Hyperautomation is an approach that enables organizations to rapidly identify, vet and automate as many processes as possible using technology, such as robotic process automation (RPA), low-code application platforms (LCAP), artificial intelligence (AI) and virtual assistants.”- Gartner

 

The worldwide market for technology that enables hyperautomation will reach $596.6 billion in 2022, according to a new forecast from Gartner, Inc. This is up from $481.6 billion in 2020 and a projected $532.4 billion this year. Hyperautomation was mentioned by Gartner in their Strategic Technology Trends for 2020 report which has gained lot of attention. So, what is Hyperautomation? Is it another buzz word? Essentially Hyperautoamtion is a merging of advanced and modern technology to deliberately automate business processes beyond point solutions. The objective is to automate business processes by using data and insight to make effective decisions. Gartner notes that RPA enriched by AI and ML is the central hyperautomation technology.  Which defines RPA has led to the concept of hyperautomation. Hyperautomation is a structure for scaling automation building on the potential and limitation of RPA.

Tools necessary to develop a hyperautomation includes –

• No code or low-code application
• Integration platform as a service
• Business process management systems
• AI and machine learning tools

 

Automation vs Hyperautomation:

The big difference between the automation and hypoautomation is that automation is a basic task automation whereas hyperautomation is an expansion of automation with a unified approach that desires to automate and coordinate business processes with an aim to do more with the technologies. Automation focuses on set of tasks often building on RPA while hyperautomation have three main components: Automation, Orchestration and Optimization. Hyperautomation is a technology that uses advanced automation technology to increase the potential of human knowledge by a business.

 

Benefits of Hyperautomation:

• With the potential of hyperautomation work can be more faster and error less with available resources. Employee as a result can focus on other essential work.
• Hyperautomation takes down the dependence on IT.
• Today Infrastructure follows Integration and integration powered by hyperautomation allows seamless communication and enables system access to the centralized data.
• Task automated can accelerate the efficiency and ensures monetary savings.

Hyperautomation affecting Industries:

“By 2024, organizations will lower operational costs by 30% by combining hyperautomation technologies with redesigned operational processes.”- Gartner

Gartner suggest that hyperautomation creates a digital twin of the organization which can be a game changer to the recent business challenges. Bank and insurance firm predicts a greater potential with hyperautomation in back-office operations, application screening, regulating reporting, payment operations, identifying fraudulent activities with the power of AI, Machine learning and other analytical technology. Pandemic has changed the healthcare field to a large extent. This field has adopted fast and efficient solutions by the hyperautomation to perform mundane activities. Even Business Process Outsourcing has welcomed new avenues and opportunities offered by hyperautomation with helping in improving the quality of customer care service and saving their time by automating the repetitive task. Hyperautomation has the potential to be a powerful trend extenuating risks in the supply chain and has done wonders in retail field by improving productivity, fulfilling customer expectations, delivering precise outcomes, cutting costs, and ultimately boosting revenue. Hyperautomation is a blessing that will continue to positively impact businesses to a great extent. There is no doubt that hyperautomation is the next wave in the world of digitization transforming business across the industries.

Source: (https://www.dqindia.com/power-hyperautomation-digitally-transforming-industries-globally/)

 

 

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